EveryMatrix hits all-time best quarterly results in Q1 2024

EveryMatrix has had more good news to post in recent weeks, with the company just revealing closing the books on its most successful quarter to date. The results for Q1 2024 were the highest the company has on record, with net revenue reaching nearly €39m and constituting a 66% upswing in results, Casino Guru News learned in an email press release.

The quarterly profit margin was also up 57% and this is the fourth consecutive quarter in which EveryMatrix posted a profit margin increase of more than 50%. In other words, EveryMatrix has been on a steady upward trajectory, deploying powerful products that have proved to also be exceptionally commercially viable.

The company’s EBITDA during the quarter was also up by 111% year-over-year to €22.3m, with these results all coming on the tail of the company’s strongest financial year in 2023. The new year seems to be on track to top those results, with the company pulling off several important deals already into 2024.

The company launched its aggregation solution with DraftKings in New Jersey, dipping its toe into the country's highly competitive and promising market. The event was preceded by an iGaming entry in Pennsylvania. In the meantime, the supplier has also hit 1,000 employees across its 13 global locations and is on track to continue growing and expanding its clout.

The company similarly became one of the first technology B2B providers in Peru and similarly introduced content with Entain’s BetMGM and Golden Nugget Online Gaming, apart from its tie-up with DraftKings. EveryMatrix Group CEO Ebbe Groes:

"It’s been more than a year of the company breaking records and hitting new highs, and this quarter has been the best yet. It’s mind-blowing how far we’ve come and how much progress continues to be made across the entire business. From casino, sports and platform that are all showing extremely positive signs of sustained growth and expansion, to our affiliate, payments and live casino divisions that are pushing the boundaries of technology and paving the way for future success, we’re in a fantastic position for the remainder of 2024 and beyond."

Gross gaming revenue from both the casino and sports betting sectors continued to climb steadily. The company reported €619m in Q1 2024, a jump of 65% year-over-year in the casino sector specifically. Casino net revenue hit another significant milestone, having reached €19.9m, or an 83% year-over-year increase.

In the meantime, the SlotMatrix aggregation product introduced 886 brand-new games over the period, bringing up the total to just north of 27,825. The OddsMatrix division also saw an increase in turnover to €1.3bn, a 31% year-over-year growth.

The company also saw its Affiliate Platform, including DeepCI and PartnerMatrix perform well during the quarter, with net revenue hitting €1.4m, as the company’s 360-degree solutions have been working very well over the period. The company signed 15 and 14 new clients for the two solutions respectively.

Image credit: EveryMatrix